Bank of New York Mellon Corp Sells 68,626 Shares of Xcel Energy Inc. $XEL

Key Points

• Bank of New York Mellon trimmed its Xcel Energy stake by 1.9% in the first quarter, selling 68,626 shares and ending with 3,499,718 shares valued at about $278 million.
• Xcel Energy reported quarterly earnings of $0.91 per share, matching analyst expectations, while revenue came in at $4.02 billion versus the $4.21 billion estimate.
• The utility declared a quarterly dividend of $0.5925 per share, implying a 3.0% yield, while analysts remain broadly positive with a consensus rating of “Buy” and an average target price of $92.76.

Bank of New York Mellon Corp decreased its holdings in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 1.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,499,718 shares of the company's stock after selling 68,626 shares during the period. Bank of New York Mellon Corp owned 0.56% of Xcel Energy worth $278,018,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in XEL. Geneos Wealth Management Inc. lifted its stake in Xcel Energy by 47.2% in the first quarter. Geneos Wealth Management Inc. now owns 40,829 shares of the company's stock worth $3,243,000 after purchasing an additional 13,092 shares during the last quarter. SouthState Bank Corp boosted its stake in shares of Xcel Energy by 30.2% during the first quarter. SouthState Bank Corp now owns 4,931 shares of the company's stock valued at $392,000 after purchasing an additional 1,145 shares during the period. Checchi Capital Advisers LLC boosted its stake in shares of Xcel Energy by 14.1% during the first quarter. Checchi Capital Advisers LLC now owns 7,386 shares of the company's stock valued at $587,000 after purchasing an additional 910 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of Xcel Energy by 21.8% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,513 shares of the company's stock worth $359,000 after purchasing an additional 807 shares during the last quarter. Finally, Lifeworks Advisors LLC increased its stake in Xcel Energy by 109.7% in the 1st quarter. Lifeworks Advisors LLC now owns 9,715 shares of the company's stock worth $772,000 after buying an additional 5,082 shares during the period. Hedge funds and other institutional investors own 78.38% of the company's stock.

Xcel Energy Stock Down 1.5%

Xcel Energy stock opened at $78.77 on Friday. The business's 50-day simple moving average is $79.56 and its two-hundred day simple moving average is $79.05. The company has a market cap of $49.17 billion, a PE ratio of 22.70, a PEG ratio of 2.08 and a beta of 0.39. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.68 and a current ratio of 0.77. Xcel Energy Inc. has a fifty-two week low of $69.16 and a fifty-two week high of $84.23.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $0.91 EPS for the quarter, hitting analysts' consensus estimates of $0.91. Xcel Energy had a return on equity of 10.37% and a net margin of 14.14%.The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the prior year, the business earned $0.84 earnings per share. The company's revenue was up 2.9% compared to the same quarter last year. Equities analysts anticipate that Xcel Energy Inc. will post 4.11 EPS for the current year.

Xcel Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, June 15th will be paid a $0.5925 dividend. This represents a $2.37 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, June 15th. Xcel Energy's payout ratio is currently 68.30%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Jefferies Financial Group set a $101.00 price objective on shares of Xcel Energy in a research note on Tuesday, July 7th. Morgan Stanley set a $89.00 price objective on shares of Xcel Energy in a research note on Wednesday, June 24th. Barclays upped their target price on Xcel Energy from $87.00 to $90.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Mizuho cut their price target on Xcel Energy from $94.00 to $91.00 and set an "outperform" rating on the stock in a report on Tuesday, June 23rd. Finally, UBS Group raised their price objective on Xcel Energy from $89.00 to $91.00 and gave the company a "buy" rating in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Xcel Energy currently has an average rating of "Buy" and a consensus target price of $92.76.

Xcel Energy Company Profile

Xcel Energy NASDAQ: XEL is a Minneapolis-based, publicly traded utility holding company that develops, owns and operates regulated electricity and natural gas delivery systems. The company's core activities include generation, transmission and distribution of electricity, the delivery of natural gas to customers, and related customer service operations. Xcel provides a mix of utility services to residential, commercial and industrial customers and participates in wholesale energy markets where appropriate.

Its generation portfolio combines nuclear, natural gas, coal and a growing share of renewable resources such as wind and solar.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.